Ashlee is an insurance editor, journalist and business professional with an MBA and more than 17 years of hands-on experience in both business and personal finance. She is passionate about empowering others to protect life's most important assets. Wh.
Ashlee Valentine Deputy Editor, InsuranceAshlee is an insurance editor, journalist and business professional with an MBA and more than 17 years of hands-on experience in both business and personal finance. She is passionate about empowering others to protect life's most important assets. Wh.
Written By Ashlee Valentine Deputy Editor, InsuranceAshlee is an insurance editor, journalist and business professional with an MBA and more than 17 years of hands-on experience in both business and personal finance. She is passionate about empowering others to protect life's most important assets. Wh.
Ashlee Valentine Deputy Editor, InsuranceAshlee is an insurance editor, journalist and business professional with an MBA and more than 17 years of hands-on experience in both business and personal finance. She is passionate about empowering others to protect life's most important assets. Wh.
Deputy Editor, Insurance Michelle Megna Lead Editor, InsuranceMichelle is a lead editor at Forbes Advisor. She has been a journalist for over 35 years, writing about insurance for consumers for the last decade. Prior to covering insurance, Michelle was a lifestyle reporter at the New York Daily News, a magazine.
Michelle Megna Lead Editor, InsuranceMichelle is a lead editor at Forbes Advisor. She has been a journalist for over 35 years, writing about insurance for consumers for the last decade. Prior to covering insurance, Michelle was a lifestyle reporter at the New York Daily News, a magazine.
Michelle Megna Lead Editor, InsuranceMichelle is a lead editor at Forbes Advisor. She has been a journalist for over 35 years, writing about insurance for consumers for the last decade. Prior to covering insurance, Michelle was a lifestyle reporter at the New York Daily News, a magazine.
Michelle Megna Lead Editor, InsuranceMichelle is a lead editor at Forbes Advisor. She has been a journalist for over 35 years, writing about insurance for consumers for the last decade. Prior to covering insurance, Michelle was a lifestyle reporter at the New York Daily News, a magazine.
| Lead Editor, Insurance
Updated: Jan 2, 2024, 1:45pm
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John Hancock offers a solid option for many types of nicotine users. With John Hancock life insurance, if you’re an occasional cigar smoker you could qualify for the best non-smoker rates if you smoke 12 or fewer cigars a year.
Many life insurance companies offer only smoker’s rates for regular users of tobacco products. Premiums and internal policy costs for these “smokers” are generally twice as much (or more) as the costs for non-tobacco users. However, some insurers will consider infrequent or occasional “celebratory” cigar users for their best rates under certain circumstances. If you use nicotine in any form (cigarettes, edibles, patches, vaping) it can really pay off to shop around for life insurance.
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Our editors are committed to bringing you unbiased ratings and information. Our editorial content is not influenced by advertisers. We use data-driven methodologies to evaluate insurance companies, so all companies are measured equally. You can read more about our editorial guidelines and the methodology for the ratings below.
John Hancock sells:
Term life insurance has a specific time period for fixed premiums, known as the term. It is often the cheapest way to purchase life insurance and is a preferred option for those seeking coverage for a specific period.
John Hancock offers term lengths of 10, 15, 20 or 30 years and a choice of two term policies: Protection Term and Vitality Term.
The main difference between Protection Term and Vitality Term is that Protection Term offers the Vitality PLUS rider as an optional rider, while Vitality Term comes with the rider built in. But there are some other differences.
The Vitality PLUS program rewards you with discounts on some goods and services for making healthy lifestyle choices. You could also save up to 25% on your life insurance premiums, according to John Hancock.
Protection Term is a good option for shoppers who want stable premiums. Coverage amounts are offered from $250,000 to $65 million for buyers ages 18 to 80.
Vitality Term is a good option for buyers who want benefits and premium reductions based on their participation in the Vitality health program. But be aware that Vitality Term premiums can increase, too, based on Vitality program participation. Coverage amounts are offered from $250,000 to $30 million for shoppers ages 20 to 80.
Both John Hancock term policies are renewable up to age 94.
Those who want high coverage options and fixed premiums throughout the termThose who need $30 million in coverage or less and want benefits for Vitality health program participation
Death benefit $250,000 to $65 million $250,000 to $30 million Term options 10, 15, 20 or 30 years 10, 15, 20 or 30 years How to apply With an agent by phone With an agent by phone Available for applicants 18 to 80 years old 20 to 80 years old Option to convert to a permanent policy Rider optionsAccelerated Benefit rider, Estate Preservation rider, Total Disability Waiver rider, Vitality PLUS rider
Accelerated Benefit rider, Total Disability Waiver rider See More See LessUniversal life insurance is permanent life insurance protection. Universal life insurance includes a cash value component that you can tap into and gives you the flexibility to adjust premiums.
John Hancock’s Protection UL is its lowest-cost permanent life policy and is available for buyers ages 20 to 90. The minimum coverage amount is $50,000 and buyers can choose between two death benefit options:
Other rider options include the Long-Term Care rider, Accelerated Benefit rider, Critical Illness Benefit rider and Disability Payment of Specified Premium rider.
Indexed universal life (IUL) insurance can be attractive to those with a high tolerance for risk who are interested in the potential to grow cash value and tax-free gains during retirement. These policies also have the flexibility to vary premiums, within a certain limit. Participation rates, caps and fees are commonly associated with IUL policies, so make sure you understand how the policy will work.
John Hancock offers three IUL products:
With a variable universal life (VUL) insurance policy, you select the sub-accounts for cash value investments. You can also choose to vary premium payments and death benefit amounts. With the right investments, this type of policy can offer a large potential for growth.
Due to the complexities of VULs, they often require the policyholder to actively manage the investment accounts. VULs can also come with higher-than-usual fees.
Protection VUL is John Hancock’s variable life insurance product and is available for people ages three months to 90 years. It comes with more than 55 sub-account options and gives you the ability to customize investments to fit your goals. The minimum coverage amount for Protection VUL is $50,000.
John Hancock’s Protection Term costs an average of $371 a year for a 30-year, $500,000 policy for a healthy 30-year-old female, based on Forbes Advisor’s analysis. That’s more than other companies’ rates in our analysis.
Legal & General America Protective Classic Choice Term Legal & General America Select-a-Term PL Promise Term Non-Convertible Term Trendsetter Super Midland National Premier Term John Hancock Protection TermSource: Forbes Advisor research. Rates are based on buyers who are healthy and qualify for the best rates.
See More See LessA life insurance rider lets you buy extra coverage or features to customize your policy. John Hancock’s riders include:
Availability of riders could depend on type of policy.
John Hancock life insurance is mainly sold through independent brokers.
You can file a John Hancock life insurance claim by filling out a form on their website or calling (888) 887-2739. You can also request a claim form by regular mail.
Call customer service at (800) 732-5543.
At the time known both as John Hancock Life Insurance Co. and John Hancock Mutual Life Insurance Co., the company was chartered in 1862 and began selling life insurance in Massachusetts. The company’s headquarters are in Boston.The company got its name from John Hancock, an American founding father and Patriot in the American Revolution. Although it was acquired by Manulife Financial in 2004, it has continued to keep its name.
Today, John Hancock Financial offers a variety of life insurance, retirement planning and long-term care products.
To find the best life insurance for seniors, we evaluated both term life and permanent life insurance:
Our ratings are based on:
Cost competitiveness of cash value policies (30% of score): This measures the level of premiums and internal policy charges for seniors, including the cost of insurance, fixed administration expenses and cash value-based wrap fees.
Historical performance (30% of score): This measures the historical performance of the company’s investments that fuel cash value growth.
Reliability of policy illustrations (30% of score): We evaluated the reliability over time of the company’s illustrations for senior policyholders for permanent life insurance products.
Financial strength (10% of score): This measure incorporates the insurer’s financial strength ratings from four major ratings agencies: AM Best, Fitch, Moody’s and Standard and Poor’s.
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